Are Rentals Dead? If So, These Could Be The Next Best Moves To Make...
While the pandemic of 2020 may have been foreseeable, no one envisioned such an extended period without rental payments or a ban on evicting tenants. If this is the end of rental properties, then what is the best investment move to make now?
No End In Sight For Eviction Bans
Dealing with non-performing tenants is nothing new for experienced landlords. An indefinite ban on evicting those renters is something completely different.
NY has already given renters a free pass through at least May 2021. CA appears to be next in extending their moratoriums. Even without any more extensions this backlog could easily make it 2022 before landlords could regain control of most of their units.
For landlords the bills are still due. If they don’t have other sources of cash coming in, then they face losing the portfolios they’ve worked so hard to build.
The Exceptions
It is true that in the long term property values have proven to just keep on going up. Even through every type of crisis that has come along.
There are PPP loans to help landlords stay afloat, and some may be able to take advantage of rent paid directly by local government agencies. We may also see much wider spread use of universal basic income and housing subsidy programs over the next year.
Big companies like Amazon are still investing billions in rental housing, and big institutional funds will still invest in these properties to play the long game. Just expect far fewer individuals being active in this space.
Wholesaling Real Estate
For those who need income now, wholesaling real estate is probably exactly what is needed.
It can provide fast cash injections which can supplement for lost earned income at jobs, and rents. Providing both living expenses, more investment capital, and cash flow to hold onto rentals.
The market is perfectly aligned for wholesaling too. We have almost $100B worth of distressed loans and motivated sellers in the pipeline. Meanwhile, retail buyers are active, highly motivated, and pushing retail house prices to new highs.
Wholesalers can flip their deals to rehabbers and directly to retail home buyers. Both of which are plentiful in the market today. Buy right, and you can bake in your profits upfront.
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